The Russian currency is experiencing today a black Monday breaking the psychological barrier of 100 rubles per dollar. It is the lowest figure since late March 2022, two weeks after the start of the war in Ukraine. The main factor of the ruble's fall is the imbalance in the trade balance. Russia's current-account surplus - a key factor in fuelling the budget and consumption - shrank 85% compared with the same period last year. The isolation and closure of markets is greatly damaging the country's finances.
The ruble is heading for collapse, the tipping point is near: Russia s economy is bursting at the seams
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Russian Central Bank explains ruble s slide
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Russian Central Bank explains ruble s slide
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Russian Central Bank explains ruble s slide
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